The impact of two week shut down of the construction industry was felt right across Victoria, putting many businesses and their employees under further strain.
The Victorian State Government has opened applications for their targeted support grant, the ‘Business Costs Assistance Program Round Four – Construction’, which will provide a one-off payment to eligible businesses within the sector.
What am I eligible to receive?
The grant amount payable to an eligible business is determined by its payroll size:
- $2,000 for non-employing businesses
- $2,800 for employing businesses with annual payroll below $650,000
- $5,600 for employing businesses with an annual payroll between $650,000 and less than $3 million
- $8,400 for employing businesses with an annual payroll between $3 million and $10 million.
The grant amounts outlined above are low but are in line with the grants provided to other businesses throughout the latter part of the lockdown and business restrictions. Notwithstanding the amount, we urge our eligible clients to take it up to offset some lost revenues. Applications and full criteria for the grant can be found on the Business Victoria website.
Important- Check your ABN Industry Code before applying
Morrows recommends that you confirm that your business ABN is registered with the correct industry code before applying. Should you be unsure and wish to check that you have registered the ABN with the correct code, please contact your Morrows advisor, who will quickly check for you.
Can Morrows help with the application process?
Yes, Morrows can help prepare the grant application on your behalf for a fee of $500 plus GST (for straight forward applications). Please note that applications will close at 11:59 PM on 9 November 2021.
Should you have any questions about the grant or need assistance applying, please reach out to your Morrows advisor.